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Third Point Update and Top Three
Posted by: Sally Jones (IP Logged)
Date: May 10, 2013 05:39PM
Highest-earning hedge fund managers are in the spotlight this week as many of the investor Gurus have found a place on the new “Rich List” released by Institutional Investor’s Alpha. Third Point’s letter-writing shareholder activist founder Daniel Loeb is No. 10 on the Rich List, and is reported to have earned $380 million in 2012.
In first quarter Loeb’s fund Third Point made around $50 million on his $200 million Herbalife bet, according to WSJ, listing Herbalife Ltd. (HLF), Yahoo (YHOO) and Virgin Media (VMED) as the fund’s top performers. Virgin Media (VMED) is up 127% over 12 months, while Herbalife (HLF) is down 4% over 12 months. Here’s a current look at Daniel Loeb’s other top holdings.
No. 1: Yahoo! Inc. (YHOO), Weighting: 26.6%, Shares Owned: 73,000,400, Value: $1.45 billion
Daniel Loeb holds 6.63% shares outstanding of the online media company Yahoo! Inc. (YHOO), founded in 1994. An early investor in the company, Loeb first bought YHOO shares in the second quarter of 2008 at an average price of $26.24, and made a 1.6% gain. Since that time, Loeb’s average cost on over 73 million shares bought of $14.36 per share for an 86% gain.
Up 76% over 12 months, Yahoo! Inc., together with its consolidated subsidiaries is a premier digital media company. Yahoo! Inc. has a market cap of $29.06 billion; its shares were traded at around $26.83 with a P/E ratio of 7.80 and P/S ratio of 6.40. Yahoo! Inc. had an annual average earnings growth of 7.6% over the past 10 years.
The GuruFocus interactive valuation screen shows the YHOO share price changes over 10 years.
YHOO data by GuruFocus.com
No. 2: American International Group Inc. (AIG), Weighting: 12%, Shares Owned: 18,500,000, Value: $653 million
Daniel Loeb also holds 1.2% shares outstanding of American Insurance Group Inc. (AIG). His trading history shows that AIG is a relatively new holding for Third Point. Loeb first bought AIG shares in the second quarter of 2012 at an average price of $31.25, for a gain of 41.4%. AS of quarter ending Dec. 31, 2012, Loeb’s average cost on over 18.5 million shares bought and sold was $32 per share for a 38% gain.
Up 39% over 12 months, American International Group Inc. (AIG) has a market cap of $65.64 billion with a P/E of 34.80 and a P/S of 1.09.
AIG is a holding company which, through its subsidiaries, is engaged in a range of insurance and insurance-related activities in the U.S. and abroad.
The GuruFocus interactive valuation screen tracks AIG share price changes over 10 years.
AIG data b y GuruFocus.com
No. 3: Delphi Automotive PLC (DLPH), Weighting: 7%, Shares Owned: 10,000,000, Value: $382 million
Daniel Loeb also holds 3.17% shares outstanding of Delphi Automotive PLC (DLPH). His trading history shows that DLPH is also a relatively new holding for Third Point. Loeb first bought DLPH shares in the first quarter of 2012 at an average price of $28.94, for a gain of 57.2%. As of quarter ending Dec. 31, 2012, Loeb’s average cost on 10 million shares was $29 per share for a 57% gain.
Up 58% over 12 months, Delphi Automotive PLC was organized on August 19, 2009. Delphi Automotive has a market cap of $14.49 billion; its shares were traded at around $45.40 with a P/E ratio of 14.40 and P/S ratio of 0.90. The dividend yield of Delphi Automotive stocks is 0.40%.
Here are the DLPH share price changes over 10 years.
DLPH data by GuruFocus.com
Guru Daniel Seth Loeb is founder of Third Point LLC, a New York-based hedge fund managing over $2.3 billion in assets. Loeb is well known in the financial world for expressing his opinions in the public letters he writes. The portfolio of Third Point lists 40 stocks, 19 of them new, with a total value of $5.4 billion and a quarter-over-quarter turnover of 30%.
Here is the complete portfolio of Daniel Loeb.
Also check out:
1. Daniel Loeb's Undervalued Stocks
2. Daniel Loeb's Top Growth Companies
3. Daniel Loeb's High Yield stocks
4. Stocks that Daniel Loeb keeps buying
Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of Daniel Loeb.
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Guru Discussed: Daniel Loeb: Current Portfolio, Stock Picks
Stocks Discussed: YHOO, AIG, DLPH, VMED, HLF,